Today In Washington
November 14, 2017
Source: AEO Government Relations Team, Madison Services Group
Senate Tax Reform Debate
Today, the Senate Finance Committee will continue its conceptual mark-up of the “Tax Cuts and Jobs Act.” Several hundred amendments have been filed, and Committee Chair Orrin Hatch (R-UT) expects to release an updated Chairman’s Mark later today. The Committee’s consideration of tax reform is expected to consume the remaining legislative days leading up to Thanksgiving.
As a reminder, tax reform will be debated and examined as a narrative, instead of bill text.
House to Vote on FY 2018 NDAA
Today, the House will vote on the FY 2018 National Defense Authorization Act (NDAA). The vote follows a bicameral conference, an informal process where the House and Senate reconcile their competing bills into a final bill. If passed by the House and Senate without amendment, the NDAA will go to the President for signature.
Provisions included in the NDAA:
• Requires the Small Business Administration (SBA) to conduct a study on Women-Owned Small Business (WOSB) participation on Multiple Award Contracts (MACs)
• HUBZone maps locked-in until January 1, 2020; transition to 5-year map updates thereafter
• Provides state governors the ability to petition the SBA Administrator to designate areas that have an average unemployment rate at least 120% of national or state average — whichever is lowest — as HUBZones; petitions require annual resubmission
• Removes the qualifier “nonmetropolitan” from “state median income” when determining HUBZone program eligibility
• Requires the SBA to make a determination on a firm’s HUBZone eligibility within 60 days of application receipt
Today @ 9 a.m.: Senate Finance Committee hearing – “Continuation of the Open Executive Session to Consider an Original Bill Entitled the Tax Cuts and Jobs Act.” 216 Hart Senate Office Building.
Tomorrow @ 11 a.m.: House Small Business Committee hearing – “Federal Government and Small Businesses: Promoting Greater Information Sharing for Stronger Cybersecurity.” 2360 Rayburn House Office Building.